The U.S. hotel industry reported positive results in the three key performance metrics during the week of 26 June through 2 July 2016, according to data from STR.
In year-over-year comparisons, the industry's occupancy increased 4.8% to 71.5%. Average daily rate was up 3.6% to US$123.97. Revenue per available room grew 8.6% to US$88.64.
Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, reported the largest increases in occupancy (+25.5% to 72.0%) and RevPAR (+48.7% to US$85.19). ADR in the market was up 18.6% to US$118.26.
Six additional markets experienced a lift in RevPAR of more than 20.0%: Dallas, Texas (+36.2% to US$70.19); Denver, Colorado (+32.3% to US$140.85); Boston, Massachusetts (+26.0% to US$157.13); Nashville, Tennessee (+22.1% to US$108.80); San Diego, California (+20.4% to US$152.40); and Detroit, Michigan (+20.2% to US$63.45).
Overall, 14 of the Top 25 Markets reported double-digit RevPAR growth for the week.
Of the seven markets to experience a decrease in RevPAR, New Orleans, Louisiana (-6.5% to US$109.78), reported the largest decline in the metric.
Denver posted the largest increase in ADR (+23.9% to US$152.88). Aside from the aforementioned Minneapolis/St. Paul, one other market recorded an ADR increase above 15.0%: Dallas (+16.0% to US$98.10).
Chicago, Illinois, reported the largest drop in ADR, down 6.0% to US$136.45.
In addition to Minneapolis/St. Paul, five markets saw occupancy rise by double-figures: Dallas (+17.3% to 71.5%); San Diego (+13.3% to 87.0%); Boston (+12.7% to 82.6%); St. Louis, Missouri-Illinois (+11.0% to 78.8%); and Detroit (+10.6% to 67.0%).
New Orleans (-2.2% to 70.5%) experienced the week's largest decline in occupancy.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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